Veterinary diagnostics and therapeutics have flourished in the past few years and presently include a large array of technologically advanced and highly sophisticated products that assist veterinarians in effectively diagnosing and treating animals.
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Global Veterinary Equipment and Disposables Market: Overview
A variety of veterinary equipment and disposables are required on a frequent basis for proper diagnosis and treatment of animal diseases. Proper screening of food animals to ensure prevention of food contamination and global outbreak of deadly zoonotic diseases such as tuberculosis and avian flu can play a major role in protecting the domestic animal husbandry industries and humans from the effects of such diseases.
Availability of analyzers, laboratory diagnostic equipment, and disposables for treatment of various diseases among companion animals is highly valued by pet lovers and owners. It is estimated that pet owners across the globe spend billions of dollars every year for diagnosis and treatment of diseases affecting their beloved pets.
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The report presents a comprehensive overview of key market segments in the present scenario and forecasts their market valuation at the global and regional levels between 2016 and 2024. The report includes a detailed value chain analysis of the global veterinary equipment and disposables market, a detailed overview of the competitive landscape, and market attractive analysis, wherein major application areas have been benchmarked on the basis of their growth rate over the report’s review period, market size, and general attractiveness.
Global Veterinary Equipment and Disposables Market: Growth Drivers, Challenges, and Opportunities
Several factors have led to the increased focus on the global market for veterinary equipment and disposables in the past few years. The most prominent drivers of the market are increasing incidence of zoonotic disease outbreaks across the globe, rising expenditure on animal health, growing number of veterinary practitioners and a significant rise in their earnings in developed regions, rapid expansion of the companion animals segment, and increased government intervention in the field through research funds and tax exemption on several veterinary equipment in some countries.
High price of technologically advanced devices is one of the major challenges in the global market, especially in developing countries. Venturing into these regions with economically viable veterinary equipment and disposables is a lucrative opportunity for market vendors in the current scenario.
Major product types available in the global veterinary equipment and disposable market fall in the categories such as ultrasound equipment, X-ray equipment, surgical equipment, orthopedic equipment, endoscopy equipment, ventilators, warming units, and anesthesia equipment.
Global Veterinary Equipment and Disposables Market: Regional Scenario
North America is the leading market for veterinary equipment and disposables and is expected to exhibit strong growth during the forecast period, largely owing to the continuously rising number of pet owners and favorable medical reimbursement scenario, which makes expensive surgical procedures affordable to pet-owners.
Asia Pacific is another lucrative market for veterinary equipment and disposables. The market in the region is expected to expand at the fastest pace during the forecast period, due to rise in the population of livestock animals, increase in disposable income and the consequent rise in pet adoption, growing awareness regarding animal health, and surging health care expenditure in the animal husbandry industry.
Major players in the global veterinary equipment and disposables market are Medtronic plc, 3M Company, Smiths Group plc, Vetland Medical Sales and Services LLC, Midmark Corporation, and DRE Veterinary.
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